On March 17, the Ukrainian defense-tech startup Swarmer completed its initial public offering (IPO) on The Nasdaq Capital Market, according to the exchange’s website.
The company’s shares are listed under the ticker SWMR. Swarmer set the IPO price at $5.00 per share for 3,000,000 common shares and also offered a 30-day option to purchase an additional 450,000 shares at the IPO price, minus underwriter discounts and commissions.
The Nasdaq Capital Market caters to companies with a market capitalization of up to $2 billion. By the morning of March 18, Swarmer’s shares were trading at $31 per share.
Founded in 2023 by Serhiy Kuprienko and Alex Fink, Swarmer develops an AI-based platform for automated control of drone swarms. The software allows a single operator to manage up to 25 drones simultaneously, coordinating them as a unified system. The platform’s algorithms are trained on data from over 100,000 combat sorties, enabling the AI to replicate experienced operators’ tactics and operate effectively even under electronic warfare conditions.
The IPO was organized by Lucid Capital Markets, bringing one of Ukraine’s leading defense startups to the American stock market.
